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To: DavidG who wrote (27681)	2/3/1998 5:49:00 PM
From: Thomas G. Busillo	Respond to of 53903

David, maybe it's a case of "the axe who cried sell" <g> The guy is in flames (for now). I find it amazing that "overcapacity" is the problem in every single market. For example, the problem with INTC is overcapacity? XLNX, ALTR, LSCC face overcapacity? This is the guy who came down on other analysts for not paying enough attention to "micro-analysis", and then he turns around and makes these broad sector-wide calls based on generalizations that may not necessarily be applicable to all chip stocks. What else can he say? Other than the notion that the integrated circuit has been a mass hallucination, I can't think of anything else. I think it would be pretty funny if Tom "the best there is" Kurlak ended up calling both the $SOX top (in my book, he nailed the top on the $SOX with his "best of all..." line - granted it went the wrong way) and the bottom. I could have sworn it was Kurlak who on 12/2/97 was reported by Smart Money to be looking for the $SOX to retrace 50% from its peak. That would put it @ about 200. Not quite there yet. Bob Pisani is ridiculously bad. His "reports" from the floor basically amount to reiterating the "CNBC story of the day" and giving a few quotes. IMHO, it's impossible to measure CNBC by journalistic standards, since real journalism seems to be a foreign notion to them. Outside of the occasional Faber or Francis story, it's infotainment mixed with free public relations for brokerage firms. Good trading, Tom